I am in a similar boat. Right now I have a return, but the K1 I am expecting this year is from a sale of the assets. That may change my return to owe taxes. How can I know what I'll need to pay if I don't have the K1?
I know more or less the gain I got from the sale, I also have some carryover losses from previous years, mostly from accelerated depreciation (cost segregation studies). I know that depreciation will change my cost basis but I don't know by how much.
So, how can I estimate how much I will owe to the IRS so that I can send a payment at the same time I file for an extension?
